The Dominance of UAE Fintech Scaleups in the MENAT Region

The United Arab Emirates is now the leading hub for fintech scaleups in the MENAT region. As of March 2025, 155 UAE-based fintech companies have raised ≥ US $1 million (“scaleups”), surpassing Israel’s 141 such firms.

Factors Behind the Success of UAE Fintech Scaleups

Much of this success can be attributed to several factors. The country’s business-friendly environment—characterized by ease of doing business, a predominantly English-speaking workforce, and a transparent regulatory framework—has attracted Fintech startups from around the globe. This combination of efficiency, flexibility, and international accessibility has attracted Fintechs from within the region and globally. Interestingly, this includes many Israeli Fintech firms relocating their headquarters to Dubai to access regional and emerging markets more efficiently.

While the UAE leads in the number of Fintech scaleups, other countries in the region are also making significant strides. Turkey, Egypt, and Saudi Arabia follow with 41, 46, and 47 Fintech scaleups, respectively. These nations are investing heavily in Fintech infrastructure and regulatory reforms to foster innovation and attract investment.

However, none have been able to match the UAE’s scale or speed in enabling venture-backed Fintech companies to thrive. Yet.

The growth trajectory of UAE fintech scaleups is indicative of a broader trend in the MENAT region. Between 2020 and 2023, fintech funding across the Middle East and North Africa experienced a 650% increase, highlighting the sector’s resilience and potential. The UAE captured the largest share of this funding, securing 39% in the first half of 2024, up from 25% in the same period in 2023. This signals both investor confidence and the effectiveness of Dubai and Abu Dhabi’s efforts to become regional fintech capitals.

The Future of MENAT’s Fintech Landscape, and the UAE

Emerging leaders in the UAE are now pivoting from product launches to platform plays, with three areas in clear focus:

• Embedded Finance: Seamlessly weaving credit, payments, and wallets into everyday apps and marketplaces.
• Open Banking: Democratizing financial data through secure APIs, igniting new partnership models between incumbents and startups.
• Digital Wallet Ecosystems: Building interoperable rails that promise to vault MENAT toward a truly cashless future.

For entrepreneurs in MENAT, these trends signal more than opportunity—they represent proof that visionary regulation, capital intensity, and global talent can combine to reshape finance at scale. As the UAE continues to refine its fintech frameworks, every founder in the region can draw inspiration and actionable insights from its playbook—and chart their own path to becoming tomorrow’s scaleup success story.